In view of the iron
ore trade deficit from India, due to prevailing crisis, China has began
looking out for alternative markets to meet its requirements, a senior official
said today.
“India's Iron Ore supply is
not very stable. Chinese companies are looking for alternatives,” said Shi
Ming Li, Assistant Chief Representative, China Minmetals Corporation.
Last fiscal, China imported 15
per cent of its Iron Ore from India especially Goa, which is less compared to
earlier imports.
“India should have stable
and transparent mining policy which is important for miners,”
Ming Li, representative of the state controlled Corporation said and claimed,
adding Brazil and Australia has lot of capacities which can be looked up to
meet the requirement.
China, which has been sourcing Iron
ore from Australia, Brazil and South America besides India is also
looking at countries like South Africa, Iran, Ukraine, Congo, South
Africa, Zimbabwe, Indonesia and Venezuela for the steady supply
of the Iron Ore.
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